Nippon Express, Japan’s largest logistics company is buying a 22 per cent stake in Future Group’s listed logistics arm Future Supply Chain Solutions (FSC) for Rs 646 crore through a combination of primary issuance of shares and secondary purchase of shares, the company said on Friday as global majors see major uptrend in the sector on the back of e-commerce and rationalisation of existing tax regime. This would be the fourth fund raising initiative by Kishore Biyani, Future Group’s CEO in the last 12 months across group entities resulting in a cumulative capital infusion of Rs 7,450 crore. — The Economic Times

Khaitan & Co advised Nippon Express (South Asia & Oceania) Pte Ltd led by a team of partner Zakir Merchant along with principal associate Saswat Subasit, senior associate Suditi Surana and senior associate D Preethika with assistance from partner Arindam Ghosh, The team comprising of partner Anisha Chand, associate Anmol Awasthi and associate Vasudhaa Ahuja assisted on the competition law aspects. The diligence team included associate Kaushik Babu, associate Pujitha Gullapalli and associate Agranee Kapoor with assistance from partner Nishad Nadkarni and senior associate Sourav Dan on the IP diligence.

2019-09-20

Deal value: INR 6409.4 million

{incomplete}